Walmart Retreats Around Globe to Focus on E-Commerce
Walmart threw in the towel on Japan after 18 years, selling most of its stake in a local supermarket chain and continuing its retreat from slow-growing global markets in favor of e-commerce bets.
PNC to Buy U.S. Arm of Spain's BBVA for $11.6 Billion
PNC Financial Services Group agreed to buy the U.S. arm of Spain's BBVA for $11.6 billion, the companies said, in one of the largest bank tie-ups since the financial crisis.
Simon Property, Taubman Agree to Revise Merger Deal
High-end mall developer Taubman Centers has agreed to accept a price cut in its takeover by Simon Property, in a move will allow the companies to avoid a drawn-out legal battle that was set to start Monday.
Trump Allies Explored Buyout of Newsmax TV as Fox News Alternative
Hicks Equity Partners, a private-equity firm with ties to a co-chair of the Republican National Committee, has held talks in recent months about acquiring and investing in Newsmax, a fledgling pro-Trump cable channel.
Elon Musk's SpaceX Launches Four Astronauts Into Orbit
Elon Musk's SpaceX launched four astronauts into orbit, marking the company's first full-fledged operational mission with humans on board and beginning regularly scheduled commercial flights to the International Space Station.
Meat Giant Tyson Girds for Virus Surge
The company is using infection-tracking algorithms and employee testing to shield workers from a fresh surge in coronavirus cases and keep grocery stores stocked.
Venture Capitalists Pay Up for Backing Accused Online Loan Shark
Online lender Think Finance and its backers resisted critics for years, litigating and lobbying in defense of its payday lending business. Now two of Silicon Valley's most prominent venture capitalists are paying $50 million over their roles in the failed company's allegedly illegal practices.
HSBC Has Big Ambitions in China. Westerners Still Dominate Its Board.
The British bank has scaled back in Europe and the U.S. and doubled down on Asia, but that isn't reflected in its senior ranks. Just two of 14 board members are Chinese.
Parler Makes Play for Conservatives Mad at Facebook, Twitter
The libertarian-minded platform aims to challenge tech giants through a focus on free speech. Prominent conservative donor Rebekah Mercer is among the company's financial backers.
Berkshire Hathaway Is Becoming Its Own Elephant Investment
The biggest purchase the conglomerate has made in 2020 is the purchase of its own stock. Until recently Warren Buffett eschewed buybacks.
(END) Dow Jones Newswires
11-16-20 0515ET
